the Housing Craze

I attended an open house last week of a newly constructed "house" that is meant for retreats, weddings, huge traveling groups, etc. At first many of us thought it was another huge summer house. We got a few of those as more and more people want to live here in summer only. (I did find conflicting articles online say it is this UT's fam house and them calling it a rental property.) Homer's also becoming a retirement community b/c of the tax incentives for the elderly and its beautiful location.

Here's how they describe it: "Homer’s most magical luxury rental property. This 17,000-square-foot home, is situated on 3.5 acres of oceanfront property overlooking the incomparable Kachemak Bay in the North Pacific Ocean. Eight luxurious bedroom suites, each with its own theme, can accommodate up to 30 overnight guests. Additional amenities include an indoor pool, massage room, Turkish bath, sauna, steam room, gourmet kitchen, formal dining table for twelve, library, three fireplaces, game room, theatre room, and a 3,000-foot wraparound deck complete with an outdoor fireplace & pizza oven, direct beach access, and a 2,000 square foot replica of Neverland itself."

Our town faces some huge issues from what I have read and observed. My age group is the least represented here as there are not many professional long term, year-round jobs. Mainly tourism, construction, oil slope workers, and your own your own business. So its super tough here and i worry about the long term issue of the few that are going to support the city while the majority benefit and don't pay in. Summer housing peeps make lots of money elsewhere and then come here raising the real estate prices for those who do live and work here year round can't afford to live somewhere descent or own their own land. It was not always this way...and yes I am simplifying and generalizing here and I am not an economist; its just my opinion based on what I've seen, heard and read :)

I feel this new place is a good example of what I describe above and what is happening to our country. The middle class is vanishing. It is sad to me that this place  is here and that most likely it will be empty more than full, except when someone can afford $3K a night to stay there. While I have friends here that can't get a job with their college degrees and they live in a tiny cabin w/o water and plumbing. 

Very curious to see what happens to this place in 5 years. They have properties across the bay and in Anchorage so I guess its a successful plan.....Click here for pix. I was super overwhelmed and we all just could not believe this is here. It's more than insane.... Not very Homer or Alaskan..